Karmasangsthan Bank reduces its classified loans to 2.72pc

The state-owned Karmasangsthan Bank has achieved rare success in reducing classified loans. In the recently concluded financial year 2022-23, the amount of classified loans of the Karmasangsthan Bank is Tk 90 crore 17 lakhs which is only 2.72% of the total loans, says a press release.
In the financial year 2021-22, this amount was 112 crores 75 lakhs which is 4% of the total loans. The growth rate in classified loan collection is 25% compared to last financial year.
Not only the collection of classified loans, but in the recently concluded financial year, Karmasangsthan Bank achieved the highest success since the establishment of the bank in terms of loan disbursement, loan collection and other indicators.
In the financial year 2020-21, the disbursement and collection of loans was 1596.66 crores and 1229.93 crores respectively.
In continuation of this, the disbursement and collection of loans in the financial year 2021-22 was Tk 1860.97 crore and Tk 1734.70 crore respectively, which compared to the last financial year the growth rate of loan disbursement and collection was 17% and 41% respectively and the bank in the financial year 2022-23 Tk 2358.98 crore. Disbursed loans and collected loans of Tk 2108.97 crores.
In FY 2022-23 compared to FY 2021-22, the bank achieved growth of 27% and 22% respectively in loan disbursement and loan collection. The state-owned bank has achieved an operating profit of Tk 87.07 crore in the recently concluded financial year, increasing from the profit of Tk 64.28 crore in the last financial year after record success in all indicators indicating business targets. The profit growth rate is 36% which is the highest since the establishment of the bank.
Stating that this achievement was possible due to the appropriate guidance of the Secretary of the Financial Institutions Department of the Ministry of Finance, the appropriate monitoring of the Board of Directors, the concerted efforts of all colleagues of the bank and the leadership of efficient management, the management authorities of the bank expressed their sincere congratulations, best wishes and gratitude to all stakeholders, customers and well-wishers.Despite the current global economic situation, the bank has been able to reduce classified loans-a matter of pride.